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22 September 2017

Europe

Germany launches internet portal to fight art trafficking: The German government has launched a new internet portal providing information relevant to the Cultural Property Protection Law that came into force last year, and aims to tackle illegal trafficking in looted antiquities and to protect German national heritage.

When Will We Get There? The World Gathers in London to Consider the State of Restitution of Nazi-Looted Art: The National Gallery London hosted on September 12, 2017 the much-anticipated conference “70 Years and Counting: the Final Opportunity?” organized by the United Kingdom Department for Digital, Culture Media & Sport (DCCS), and the Commission for Looted Art in Europe (CLAE). Delegates from numerous countries gathered to consider the state of progress on the efforts to identify and return works of art lost during the Nazi era.

Monaco’s Justice Minister Resigns After Texts Reveal ‘Vast Influence Peddling’ in Billion-Dollar Art Fraud Case: In what the French press is calling “Monaco-gate,” Philippe Narmino, the minister of justice for Monaco, has resigned after French newspaper Le Monde published text messages revealing that he worked on behalf of Russian oligarch Dmitry Rybolovlev to influence a billion-dollar art fraud case.

UK government ratifies Hague Convention: The UK government has formally ratified the Hague Convention on the Protection of Cultural Property in the Event of Armed Conflict. Subject to confirmation by UNESCO, the convention and its two protocols will come into force for the UK in December.

It Might Have Been a Masterpiece, but Now It’s a Cautionary Tale: A painting attributed to Piet Mondrian included in an exhibition at Bozar in Brussels is a fake, according to the research of Leon Hanssen, a Dutch specialist on the oeuvre of Mondrian.

The ‘Winner Takes All’ Art Market: 25 Artists Account for Nearly 50% of All Contemporary Auction Sales: Just 25 artists are responsible for almost half of all postwar and contemporary art auction sales, according to joint analysis by artnet Analytics and artnet News. In the first six months of 2017, work by this small group of elite artists sold for a combined $1.2 billion—44.6 percent of the $2.7 billion total generated by all contemporary public auction sales worldwide.

Rare Bacon Painting of Two Muses May Fetch $80 Million: Two of Francis Bacon’s most famous subjects — his tragic lover George Dyer and Pope Innocent X — unite in a rarely seen painting by the artist that may fetch 60 million pounds ($80 million) at auction in London next month.

Wine and jewellery among best performing assets in latest luxury investment index: The Knight Frank Luxury Investment Index, which tracks the price growth of 10 luxury investment sectors such as classic cars, wine and antiques, found wine was up 25% over the past 12 months, while coins, watches and jewellery were up 4%.

Goldman Sachs Partner Carlotti Nixes Finance for Fine Art World: After more than two decades on Wall Street, Goldman Sachs Group Inc. partner Valentino Carlotti is swapping a career in investment banking for one in fine art by moving to Sotheby’s as global head of business development.

The Holocaust Museum Sought Lessons on Syria. What It Got Was a Political Backlash: The United States Holocaust Memorial Museum is finding itself in an unfamiliar position: as a lightning rod for the fierce debate over the Obama administration’s role in the Syrian civil war.

Hauser & Wirth Plots Major Expansion Into Asia With Hong Kong Gallery and Two New Offices: Hauser & Wirth is launching an ambitious expansion into Asia. The powerhouse gallery plans to open an exhibition space in Hong Kong in spring 2018 and offices in Beijing and Shanghai next month.

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